International Assets Investment Management LLC Grows Position in Okta, Inc. (NASDAQ:OKTA)

International Assets Investment Management LLC raised its position in Okta, Inc. (NASDAQ:OKTA) by 7,678.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 27,612 shares of the company’s stock after buying an additional 27,257 shares during the quarter. International Assets Investment Management LLC’s holdings in Okta were worth $2,500,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. NBC Securities Inc. purchased a new position in shares of Okta in the 3rd quarter worth about $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Okta in the 3rd quarter worth about $39,000. First Manhattan CO. LLC. raised its holdings in shares of Okta by 365.5% in the 1st quarter. First Manhattan CO. LLC. now owns 540 shares of the company’s stock worth $47,000 after purchasing an additional 424 shares during the period. Coppell Advisory Solutions LLC purchased a new position in shares of Okta in the 2nd quarter worth about $46,000. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Okta in the 4th quarter worth about $47,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Price Performance

Shares of OKTA opened at $93.71 on Friday. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The firm has a market cap of $15.69 billion, a price-to-earnings ratio of -43.18 and a beta of 1.00. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average of $98.87 and a 200-day moving average of $85.75.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. The business had revenue of $605.00 million during the quarter, compared to analyst estimates of $586.25 million. As a group, analysts forecast that Okta, Inc. will post -1.51 EPS for the current year.

Analyst Upgrades and Downgrades

OKTA has been the topic of several analyst reports. Citigroup raised their target price on Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. The Goldman Sachs Group raised their target price on Okta from $105.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, February 29th. BMO Capital Markets raised their target price on Okta from $80.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, February 29th. Piper Sandler raised their target price on Okta from $85.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Finally, Susquehanna raised their target price on Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Twenty equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $100.39.

Insider Activity at Okta

In related news, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the transaction, the director now owns 6,042 shares in the company, valued at approximately $646,252.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Shellye L. Archambeau sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the completion of the transaction, the director now owns 6,042 shares in the company, valued at approximately $646,252.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Shibu Ninan sold 4,279 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the transaction, the chief accounting officer now owns 4,111 shares of the company’s stock, valued at approximately $428,119.54. The disclosure for this sale can be found here. Insiders sold 11,779 shares of company stock worth $1,205,990 in the last 90 days. 7.36% of the stock is currently owned by company insiders.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.